HYBE has just announced that its subsidiary Binary Korea will be partnering with Coinbase, one of the world’s most reputable cryptocurrency companies. They will be teaming to develop Binary's Onchain Engagement Protocol with the aim of revolutionizing the creator economy.
Binary is dedicated to prioritizing Web3 user experience in building a new entertainment ecosystem, and their innovative creator enablement platform, which harnesses the power of AI and blockchain technology, looks to be a promising endeavour.
This technology will help connect creators with resources needed to help facilitate payments between fans and creators. Set to launch in 2025, this platform will be integrated into Binary's creator fandom platform, Theus, enhancing the overall experience for creators and their fans.
By utilising the Coinbase Developer Platform and Base blockchain, this initiative is set to equip creators with essential tools for secure exchanges of rewards, donations, and incentives - fostering deeper connections within their communities.
Anticipated features of the Onchain Engagement Protocol include:
- AI-Powered Influencer Discovery: Advanced models to identify emerging influencers and connect them with supporters.
- Autonomous Engagement Management: AI agents that manage fan interactions and automate the distribution of digital rewards.
- Integrated Token Economy: An intuitive system for easy donations between fans and creators, integrated with Coinbase wallets on the Base blockchain.
Sungmin Kim, CEO of Binary, stated, “We have always been committed to fostering a more meaningful and enjoyable creator economy tailored to the needs of an IP-centric landscape, going beyond the traditional business model. In partnership with Coinbase, we believe that the new Onchain Engagement Protocol will significantly enhance engagement between creators and fans by promoting active user participation within Theus and other communities to be involved.”
"We are truly excited to partner with BINARY on this innovative platform," said Dan Kim, VP of Business Development at Coinbase. "The Onchain Engagement Protocol empowers creators to deepen their connections with fans and get paid directly for their work, aligning with our mission of increasing economic freedom in the world. By leveraging blockchain and AI technology, we aim to provide creators with the tools they need to build engaged communities and support the future of creative expression."
As part of this partnership, Binary will leverage tools provided by the Coinbase Developer Platform that will help creators easily accept donations onchain and build onchain functionality into their platforms. These tools include access to Coinbase Wallet, with transactions powered by the Base network, allowing for faster and cheaper payments that alleviate costs for fans and influencers.
Meanwhile, Binary’s creator platform Theus, which launched earlier this year, has already surpassed 50,000 user signups and features an impressive roster of over 35 creators including Dotty, SISTERYELL, and Cheezefilm.
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